Frederick, Maryland Based Veralox Therapeutics Appoints Jonathan Mow as CEO and Announces $24 Million in New Funding
Veralox Taps Jonathan Mow as CEO and Secures $24M in New Funding to Advance First-in-Class Phase 2 Clinical Program
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Veralox Therapeutics, a leading clinical-stage biotechnology company dedicated to combatting immune-mediated diseases, announced today the appointment of Jonathan Mow as their new Chief Executive Officer. This exciting development comes hand in hand with Veralox securing an impressive $24 million in funding to drive forward their Phase 2 clinical program for their flagship candidate, VLX-1005.
The funds raised in this recent investment round, supported by prominent investors such as Pappas Capital and NYBC Ventures, will propel Veralox’s groundbreaking VLX-1005 into a crucial Phase 2a proof-of-concept study. This study aims to evaluate VLX-1005’s potential in combating heparin-induced thrombocytopenia (HIT), a rare but life-threatening disease resulting from an abnormal immune response to heparin exposure. Noteworthy existing investors, including Hatteras Venture Partners, Sanofi Ventures, JDRF T1D Fund, and Genesys Capital, also participated in this financing round.
Expressing his enthusiasm for this groundbreaking therapy, Peter Young of Pappas Capital, one of the new investors, stated, “VLX-1005 has great promise to revolutionize the treatment of HIT and other immune-mediated diseases. I am thrilled to join the board at such an exciting time, and to be working with a leader of Jonathan’s caliber to move into later stages of clinical development.”
Jonathan Mow, the newly appointed CEO, shared his excitement about the company’s trajectory. “This is an exciting time for Veralox as we head into our proof-of-concept Phase 2 study with VLX-1005 for HIT, a serious complication subsequent to heparin exposure that is accompanied by significant morbidity and mortality,” said Mr. Mow. He expressed gratitude to the investors for their financial support and their belief in Veralox’s mission. Mr. Mow added, “Our novel approach with 12-LOX inhibitors has great potential in this and other diseases, and I would like to thank our investors for their financial support of our important mission and giving me the opportunity to lead this world-class effort and team.”
With over 25 years of distinguished experience in biotechnology management, Jonathan Mow brings a wealth of expertise to Veralox. He served as the CEO of PhaseBio Pharmaceuticals, where he successfully guided the company from early-stage research to Phase 3 development, culminating in a successful initial public offering in 2018. Mr. Mow’s remarkable career also includes notable positions at Amylin Pharmaceuticals, Corus Pharma Inc., and PathoGenesis Corporation.
Veralox Therapeutics, at the forefront of clinical advancements, is revolutionizing the treatment landscape for serious immune-inflammatory diseases with unmet medical needs. Their lead candidate, VLX-1005, holds orphan drug designation in the United States and has earned Fast Track Designation from the U.S. Food and Drug Administration. Additionally, Veralox is actively developing second-generation therapeutic products targeting type 1 diabetes and various other immune-mediated and inflammatory diseases.
For more information on Veralox Therapeutics and their pioneering work, please visit their website at https://veralox.com/.
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Over the past 11 years, Chris has grown BioBuzz into a respected brand that is recognized for its community building, networking events and news stories about the local biotech industry. In addition, he runs a Recruiting and Marketing Agency that helps companies attract top talent through a blended model that combines employer branding and marketing services together with a high powered recruiting solution.
